What You Can Expect of a Premium Audit
Types of audits
At the end of your policy period you will be contacted by our Premium Audit department letting you know it’s time to complete your audit. You will receive an invitation to complete your audit online or in-person.
The type of audit you need to complete is based on premium size, type of operation and state requirements.
Online self-service audit
MyTravelers® Premium Audit is an online tool that allows you to provide your premium audit information to us electronically.
The online questionnaire will request information about your business. You will be asked to provide documentation to verify business activity that took place during your policy term.
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Describe the operations of your business.
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Describe the duties of each owner, officer, partner, etc., and note the payroll for each.
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Provide payroll information for the policy period and a description of employees’ duties.*
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Indicate if you use anyone other than an employee to perform work on your behalf.
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Upload Federal 941s, State quarterly wage reports, and/or last filed federal tax return.
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Profit/Loss statement if policy based on sales estimates.
*Note: No payroll data is needed if provided to Travelers by your payroll services provider.
Physical audit
For a physical audit, you will be asked to schedule an in-person appointment with a Travelers representative using the secure MyTravelers Premium Audit website or by contacting an appointment scheduler. During your audit appointment, the auditor will review financial records, such as:
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Payroll records, journals, Federal 941s, state quarterly wage reports
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Other financial records such as a general ledger, profit/Loss, etc.
The auditor will also review your operations and may ask for information about employee duties, or obtain information on others that may perform work on your behalf that are not paid through payroll.
Virtual audit
A virtual audit entails submitting your information online and then discussing it with an auditor over the phone.
You will be asked to submit specific documents and supporting information on our secure website. You have the option to schedule an appointment to ask your auditor about the requested documents; review changes to your business operations, owners, officers or employees; and discuss the findings of your premium audit.
Paper policyholder report
Most businesses will receive a letter or email to utilize the MyTravelers Premium Audit site to complete their audit. If you prefer not to complete your audit online you can contact Customer Service to request a paper form. The same questions and documentation will apply.
How to prepare for your audit
Preparing for your audit is as simple as keeping proper records and documentation throughout your policy period.
What you can expect in the audit process
The way that a premium audit is completed is determined based on premium size, type of operation and state requirements.
Contact Travelers Premium Audit
Find the best way to get in touch with Premium Audit customer service representatives.